IWS vs. FDMLX

Last updated Jun 4, 2026

IWS (iShares Russell Mid-Cap Value ETF) and FDMLX (Fidelity Series Intrinsic Opportunities Fund) are both Mid Cap Value Equities funds. Over the past 10 years, IWS returned 10.23%/yr vs 12.55%/yr for FDMLX. Their correlation of 0.90 suggests significant overlap in exposure. IWS charges 0.23%/yr vs 0.00%/yr for FDMLX.

Performance

IWS vs. FDMLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Mid-Cap Value ETF (IWS) and Fidelity Series Intrinsic Opportunities Fund (FDMLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWS achieves a 15.06% return, which is significantly higher than FDMLX's 10.07% return. Over the past 10 years, IWS has underperformed FDMLX with an annualized return of 10.23%, while FDMLX has yielded a comparatively higher 12.55% annualized return.

IWS

• 1D: -0.04%
• 1M: 3.74%
• YTD: 15.06%
• 6M: 15.13%
• 1Y: 27.01%
• 3Y*: 17.40%
• 5Y*: 8.37%
• 10Y*: 10.23%

FDMLX

• 1D: 0.52%
• 1M: 3.27%
• YTD: 10.07%
• 6M: 10.32%
• 1Y: 22.65%
• 3Y*: 16.72%
• 5Y*: 9.76%
• 10Y*: 12.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IWS vs. FDMLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWS iShares Russell Mid-Cap Value ETF	15.06%	10.82%	12.91%	12.52%	-12.29%	28.10%	4.83%	26.73%	-12.43%	13.14%
FDMLX Fidelity Series Intrinsic Opportunities Fund	10.07%	11.64%	10.76%	19.77%	-3.24%	27.54%	11.45%	17.72%	-7.17%	24.39%

Correlation

The correlation between IWS and FDMLX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 10, 2012	0.90

The correlation between IWS and FDMLX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

IWS vs. FDMLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWS

IWS Risk / Return Rank: 65
IWS Sharpe Ratio Rank: 60
IWS Sortino Ratio Rank: 62
IWS Omega Ratio Rank: 58
IWS Calmar Ratio Rank: 72
IWS Martin Ratio Rank: 72

FDMLX

FDMLX Risk / Return Rank: 39
FDMLX Sharpe Ratio Rank: 35
FDMLX Sortino Ratio Rank: 37
FDMLX Omega Ratio Rank: 33
FDMLX Calmar Ratio Rank: 49
FDMLX Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IWS vs. FDMLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) and Fidelity Series Intrinsic Opportunities Fund (FDMLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IWS	FDMLX	Difference
Sharpe ratio Return per unit of total volatility	2.06	1.71	+0.35
Sortino ratio Return per unit of downside risk	2.95	2.52	+0.42
Omega ratio Gain probability vs. loss probability	1.36	1.30	+0.06
Calmar ratio Return relative to maximum drawdown	3.60	2.66	+0.95
Martin ratio Return relative to average drawdown	13.59	8.64	+4.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWS vs. FDMLX - Sharpe Ratio Comparison

The current IWS Sharpe Ratio is 2.06, which is comparable to the FDMLX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of IWS and FDMLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IWS	FDMLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.71	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.45	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.66	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.75	-0.33

Drawdowns

IWS vs. FDMLX - Drawdown Comparison

The maximum IWS drawdown since its inception was -62.40%, which is greater than FDMLX's maximum drawdown of -35.03%. Use the drawdown chart below to compare losses from any high point for IWS and FDMLX.

Drawdown Indicators

	IWS	FDMLX	Difference
Max Drawdown Largest peak-to-trough decline	-62.40%	-35.03%	-27.37%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-9.19%	+1.66%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-23.52%	+2.95%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-23.52%	+2.29%
Max Drawdown (10Y) Largest decline over 10 years	-43.83%	-35.03%	-8.80%
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-8.02%	-4.56%	-3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.82%	-0.83%

Volatility

IWS vs. FDMLX - Volatility Comparison

The current volatility for iShares Russell Mid-Cap Value ETF (IWS) is 3.40%, while Fidelity Series Intrinsic Opportunities Fund (FDMLX) has a volatility of 3.75%. This indicates that IWS experiences smaller price fluctuations and is considered to be less risky than FDMLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWS	FDMLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	3.75%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	9.75%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	14.29%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	21.88%	-4.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.36%	19.21%	+0.15%

IWS vs. FDMLX - Expense Ratio Comparison

IWS has a 0.23% expense ratio, which is higher than FDMLX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IWS vs. FDMLX - Dividend Comparison

IWS's dividend yield for the trailing twelve months is around 1.34%, less than FDMLX's 10.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDMLX Fidelity Series Intrinsic Opportunities Fund	10.56%	11.63%	12.75%	24.60%	65.08%	18.63%	4.18%	4.94%	9.28%	4.53%	1.51%	5.76%
IWS iShares Russell Mid-Cap Value ETF	1.34%	1.53%	1.50%	1.76%	1.93%	1.39%	1.87%	1.97%	2.53%	1.96%	2.10%	2.14%

Frequently Asked Questions

Can I hold both IWS and FDMLX in my portfolio?

With a correlation of 0.94, IWS and FDMLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IWS or FDMLX?

FDMLX has higher volatility (3.75%) compared to IWS (3.40%). In terms of maximum drawdown, IWS dropped -62.40% vs FDMLX's -35.03%.

Which has better risk-adjusted returns?

IWS currently has the higher Sharpe Ratio (2.06 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.